Circle Exposes 'Fake' Platform Offering Tokenized Precious Metals Trading

A purported press release circulated on December 24 announced the launch of CircleMetals, a platform allegedly enabling users to trade tokenized gold and silver. However, a Circle representative confirmed that the release was 'fake'. The platform, which was promoted through a now-deleted website, claimed to offer 24/7 swaps between USDC and gold and silver tokens, with rewards in a mysterious CIRM token. The release, which utilized Circle's branding and quoted executives, has been disavowed by the company. Users are warned against connecting their wallets to unverified websites, as this can lead to malicious actors draining their funds. Following the incident, Circle cautioned users to verify the legitimacy of requests, especially those requiring wallet connections. The fake press release was distributed via crypto-focused PR wires and was briefly posted on a community forum before being taken down.